Friday, November 5, 2010

SPX 1250 ?


I believe that banking institutions are more dangerous to
our liberties than standing armies.
If the American people ever allow
private banks to control the issue of their
currency, first by inflation, then by
deflation, the banks and corporations that will
grow up around the banks will deprive the people
of all property - until their children
wake-up homeless on the continent their fathers
conquered.
Thomas Jefferson
1802


Several months ago the inverted H&S was mentioned--stating that 'the street' was obsessed with the regular H&S but did not seem to see the potential inverted H&S.
The break above 1130 validated the Inverted H&S formation which projects a move to the 1250 area.

The graph below shows the geometric nature of the market swings since the April 26th high. The swings all approximated a multiple of 360.
If these geometric patterns continue it follows that the advance off the 1039.70 low on August 27th may measure somewhere near a geometric number. ( 90, 120, 150, 180, 210, 225, 240, 270, 300, 360....)
If the S&P is at the 1250 level on or near November 24th it would represent a harmonic vibration of price and time.


No comments: